It’s been more than 1 year plus since I left job as a general manager in the financial trading company and trading forex on my own. I have learn a lot of technique and made friends with a lot of different people in this industry.
Contrary to popular belief, you can actually start trading with as low as $10 deposit. So that explains why I trade from time to time when I have some balance in my account.
I think I have finally found my Eurika moment in forex trading and realize that money management is the most important skill that will determine the success of your trading account in the long run.
I also realize that, shit will happen no matter how good your technical analysis is like. Everyone loss money once in a while in this market, the only difference between a successful trader is the amount of money that you loss when you hit Stop Loss, and the amount of profit you make the profit.
It is better to make a consistent profits with small losses along the way, than making a big profit in one day but end up losing everything the next day.
I have now decided to focus on a simple system that I learn from a great forex trader friend. I did messed up a few times before this when I recklessly overtrade and loss all the profits that I have made for several weeks in just one bad trade. This is the first week I test drive an EA that was developed based on that system and I managed to make a $28 profit. Not a huge amount, but I didn’t have to stay in front of the computer all the time to watch my positions.
I will update my progress with this EA next week.
You can open an account with instaforex with this link and start trading from as low as $10. Make sure you put my affiliate id – cheekui so I can make some spare cash alright? 🙂 Thanks!